Today I am going to give a few tips about assessing the location of a potential property that you are looking to buy and a few things I like to look at!

If it doesn't, you will need to have it inspected after closing - but by that time, you might as well have the contractor assess everything that needs to be done and re-allocate the budget if necessary.

A reserve is unnecessary, but I still keep around $15,000 - $20,000 in my account.The point is, that you should sit down and assess your finances to determine what the worst-case scenario may look like, how much you would need to cover it without impacting your life, and whether you will need to build a reserve.

For an ADU project, this means concentrating on the proposed construction area and its immediate surroundings to ensure that the ADU integrates seamlessly with the existing terrain.Including a planimetric & limited topographic survey in the feasibility study allows for a more accurate assessment of construction costs and potential site-related challenges.

In addition, a personality assessment is included, and helps you understand what's driving your behavior, financial decisions, and then how to leverage that and select a financial strategy.

This assessment is another powerful lure to attract people and investment dollars.

You can dive into the specifics of that here if you'd like to see why they jumped so high YoY.What I'm saying is, HOAs are a lower entry point of course, can be lucrative if you analyze the deals as traditional long term rentals....BUT, you ultimately have little to no control over specials assessments, HOA fee increases, and even rule and regulation changes that can impact your investment.

Talk to a couple of realtors in the area to get a market assessment and see what they think it is worth, how long it might take to sell and look at comparable sales for both (sales price and days on market). 

By no means would these be exact estimates and they should not be solely relied on but with high level information, I think most sponsors would agree that they could provide feedback fairly accurate assessments within +/- 5%. 

You could certainly dive into a new build cold turkey, but you are then relying on your team very heavily to make it a success with little ability to self assess progress etc.